Investors and market makers who had participated in the recently shut down ZKX project said they were caught by surprise by the shutdown announcement and received no advance notice. “As investors, we received no notice at all when ZKX shut down. The team claimed they were out of money and refused to provide any financial or spending details or communicate with us,” Ye Su, founder of ArkStream Capital, said on X. HashKey Capital echoed Su’s concerns in its own post, complaining that ZKX had failed to share its financials and future plans with the VC firm. Amber Group, which describes itself as an investor and market maker in ZKX, said it holds 3 million ZKX tokens after returning half of its initial loan of 2 million tokens and purchasing 2 million tokens as part of market making operations since the TGE. "Due to the lack of buying interest at launch and our commitment to providing continuous liquidity, we have been net buying ZKX tokens since listing, even as prices have fallen. This approach is consistent with our commitment to supporting projects and their communities, ensuring stable market conditions, possibly even at our own expense. Entrepreneurship itself involves risk and the possibility of failure, so open communication, transparency, and responsibility are priceless qualities for founders. We hope that founders recognize that a good reputation is an important asset to ensure future financing." (TheBlock)
Previously, the founder of ZKX responded to the suspension of operations, saying that the previous $7.6 million in financing was raised from 2021 to 2024 to support team operations.
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